2010-07-21
Generally speaking, pensions are exempt from seizure by creditors. Creditors can put a lien on your home, but only if you own your home. You indicate in your question that you are in good standing with your mortgage, which suggests that you do own your home. If you stop paying your mortgage, the mortgagee can start proceedings to sell the property. If you stop paying your other creditors, they will likely first start calling themselves or will turn the matter over to a collection agency. They may then try to get a judgment which can be used to seize your bank account or register a lien against your home (again only if you own it). If you require any additional information or would like to discuss your options, please contact the MNP office located closest to you. Here is the link to our offices in Ontario: http://www.mnpdebt.ca/contact/ontario/default.aspx
2025-04-25
Debt collection can be a daunting experience for many Canadians. Navigating the process alongside MNP’s team of experts can help you better understand how it will impact your credit score and gain the knowledge needed to maintain your financial health well into the future.
2025-04-25
Bankruptcy
Filing for Bankruptcy is a significant decision that can provide a fresh start for Canadians overwhelmed by debt. However, it’s essential to approach this process with caution and awareness to avoid common pitfalls and make informed decisions to protect your financial future.
2025-04-24
Filing a Consumer Proposal can feel overwhelming, but it’s not the end of your financial journey.
